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Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
 “Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2020 they are up 53%. During the same period, the order book has grown by 72%, reaching its highest level since early 2012 and is up 2% year-to-date,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.
Shipyards’ global order book currently stands at 133m Compensated Gross Tonnage (CGT), an increase of 56m CGT compared to the order book’s most recent low in late 2020. LNG and container ships have accounted for respectively 35% and 30% of the increase while bulk carriers, tankers and LPG have accounted for the rest.
The order book for container ships, however, peaked during the first quarter of 2023 and has fallen since. Year-to-date, the container ship order book has fallen 16%, deviating from the overall growth trend together with the bulk carrier order book which is down 3%.
“So far this year, the tanker and LNG segments combined have been the main drivers of growth in the global order book. In addition, the LPG tanker, cruise ship, chemical tanker and RoRo ship order books have seen double digit growth,” says Rasmussen.
Between 2010 and 2020, the shipyard industry was plagued by overcapacity. Therefore, prices only varied +/- 10% from the period’s median price.
Assuming that the available shipyard capacity in a year equals the maximum delivered in the past five years, we can illustrate both the past overcapacity and how the situation has improved.
Between 2010 and 2020, the median order book vs capacity ratio was 2.2, declining to 1.7 during the second half of 2017. Since then, the ratio has climbed from 2.1 in late 2020 to 3.7 currently, the highest since 2010.
This improvement has helped fuel the price increases. The 53% price increase in just 3.5 years may seem dramatic but it is worth remembering that the average annual price increase between 2010 and 2024 has only been 2.3% even though manufacturing wages in China have more than tripled.
“Looking ahead, the need to start replacing the large generations of ships built in the 2000s, as well as the need to decarbonise, appear to bode well for future contracting. Avoiding a massive build-up of shipyard capacity like in 2000s will be critical if shipyards are to avoid a rise in overcapacity and a scenario where prices fall back to the levels seen in the 2010s,” says Rasmussen.
Source: By Niels Rasmussen, Chief Shipping Analyst at BIMCO
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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
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